2nd Annual Best Business Idea Competition

Press Release

November 8, 2007

The results of the 2nd Annual Best Business Idea Competition are in, and the winners have been determined!  The event was sponsored by the SUU Small Business Development Center and School of Business, the Cedar City Chamber of Commerce and Iron County/Cedar City Economic Development.  Prize money was donated and sponsorship provided by the Quantum Development Group (of the private sector of our community).  Over 30 imaginative and promising business ideas were submitted for judging.  Twelve finalists were chosen to present their business idea orally to the panel of judges.  Based upon those presentations the five winners were chosen.

And the winners are….

As can be seen, the winners’ ideas covered a wide range of business possibilities.  All represent very practical and innovative business ideas, with very bright prospects for the future.  Three of the five awardees are students.

The mutual purpose of each of the sponsors of this competition is to support the development of small businesses in the Tri-County area (Iron, Beaver and Garfield Counties), and to promote healthy economic development with more jobs and an increased tax revenue base.  With the integration of community resources and the talent of our own successful entrepreneurs, we can help more and more small companies get started and successfully grow.  In the not too distant future, we are hoping to develop a “one-stop-shop” business resource center and incubator that will provide necessary support and counseling services for smaller businesses.  Ultimately, such a center would not only provide support services, but help with financing alternatives (including a micro loan or an “angel”/venture capital fund), business partnering facilitation, as well as legal and human resource services.

Craig Isom, Director of the SUU Small Business Development Center and Procurement Technical Assistance Center said, “It is very rewarding to see the response to the competition challenge.  There’s lots of talent in our community and many untapped ideas and opportunities.  We’re happy to get the creative juices flowing and have so much interest in this kind of event.  What’s most rewarding is seeing so many different resources come together (university, public and private) for a very important and common cause.  We extend our thanks to all who participated.  Now we just have to keep the ball rolling and support the launch of new, successful businesses, and build upon this start to a new community partnership.”

People shown in the picture (from left to right):
Front row:  Katie Pearson, Rachel Grant, Daniel Thompson, Craig Isom
Back row:  David Grant, Mike Ogden, Tony Carlile

Contact information of winners and others involved is available upon request for follow-up interviews and additional information.

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